The Akwa Ibom State Government received at least ₦2.934 trillion in public revenue between May 2023 and June 2026, but has stopped publishing detailed records of its capital expenditure, according to an analysis of official financial documents.
The review, based on audited financial statements, budget performance reports and revenue records, found that while the state continues to disclose revenue and recurrent spending, detailed information on capital projects is no longer available.
The absence of the records makes it difficult for citizens, researchers, civil society groups and the media to independently verify the government’s claims on infrastructure development and project execution.
Official records show the state generated ₦394.83 billion in revenue between January and June 2026. This includes ₦334.8 billion from FAAC, ₦51.43 billion in internally generated revenue, ₦8.51 billion in grants and ₦100 million from borrowing.
Financial records also indicate the state earned ₦1.110 trillion in 2024 and ₦1.144 trillion in 2025. Combined with revenues received in 2023, total public revenue since Governor Umo Eno assumed office stands at no less than ₦2.934 trillion, excluding some internally generated revenue and derivation refunds for which detailed records were unavailable.
Despite repeatedly highlighting major infrastructure projects, the state’s budget performance reports from the first quarter of 2025 through the second quarter of 2026 no longer contain detailed capital expenditure information.
Governor Umo Eno has maintained that his administration is executing 85 major projects across the state and has pointed to schools, health centres and other infrastructure as evidence of how government funds have been utilised.
However, the reviewed financial statements for 2023, 2024 and 2025 reportedly contain no detailed schedules showing capital project spending. Quarterly budget reports also no longer provide project-by-project expenditure details as they did in previous years.
The reports further omit detailed breakdowns of revenue and expenditure by ministry, programme and sector. Instead, the government now publishes brief summary reports, reducing the level of public financial disclosure.
The report noted that this limits the public’s ability to monitor spending priorities, verify project costs or determine which ministries implemented specific projects.
The Akwa Ibom State Government has yet to explain the omissions. The Commissioner for Finance reportedly requested a formal inquiry but had not responded at the time the report was published, while the Commissioner for Information also did not respond to requests for clarification.
The Akwa Ibom State Government received at least ₦2.934 trillion in public revenue between May 2023 and June 2026, but has stopped publishing detailed records of its capital expenditure, according to an analysis of official financial documents.
The review, based on audited financial statements, budget performance reports and revenue records, found that while the state continues to disclose revenue and recurrent spending, detailed information on capital projects is no longer available.
The absence of the records makes it difficult for citizens, researchers, civil society groups and the media to independently verify the government’s claims on infrastructure development and project execution.
Official records show the state generated ₦394.83 billion in revenue between January and June 2026. This includes ₦334.8 billion from FAAC, ₦51.43 billion in internally generated revenue, ₦8.51 billion in grants and ₦100 million from borrowing.
Financial records also indicate the state earned ₦1.110 trillion in 2024 and ₦1.144 trillion in 2025. Combined with revenues received in 2023, total public revenue since Governor Umo Eno assumed office stands at no less than ₦2.934 trillion, excluding some internally generated revenue and derivation refunds for which detailed records were unavailable.
Despite repeatedly highlighting major infrastructure projects, the state’s budget performance reports from the first quarter of 2025 through the second quarter of 2026 no longer contain detailed capital expenditure information.
Governor Umo Eno has maintained that his administration is executing 85 major projects across the state and has pointed to schools, health centres and other infrastructure as evidence of how government funds have been utilised.
However, the reviewed financial statements for 2023, 2024 and 2025 reportedly contain no detailed schedules showing capital project spending. Quarterly budget reports also no longer provide project-by-project expenditure details as they did in previous years.
The reports further omit detailed breakdowns of revenue and expenditure by ministry, programme and sector. Instead, the government now publishes brief summary reports, reducing the level of public financial disclosure.
The report noted that this limits the public’s ability to monitor spending priorities, verify project costs or determine which ministries implemented specific projects.
The Akwa Ibom State Government has yet to explain the omissions. The Commissioner for Finance reportedly requested a formal inquiry but had not responded at the time the report was published, while the Commissioner for Information also did not respond to requests for clarification.
